International Business Machines Co. (NYSE:IBM) Position Boosted by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,144 shares of the technology company’s stock after purchasing an additional 49 shares during the period. Ascent Wealth Partners LLC’s holdings in International Business Machines were worth $1,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the 1st quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC grew its stake in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded up $0.92 during trading hours on Thursday, reaching $214.52. The company had a trading volume of 175,594 shares, compared to its average volume of 4,233,883. The stock has a 50-day moving average of $217.49 and a two-hundred day moving average of $191.86. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The firm has a market capitalization of $198.36 billion, a PE ratio of 31.09, a PEG ratio of 4.64 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $208.12.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.